The biggest businesses of today actually influence the way in which we live our lives. In fact, they have become support systems for us. For this reason, many universities especially in the U.S, have sought to ensure that there are progressive growth and understanding in business. Universities like Harvard now have their own business schools, therefore, in this article, we’ll closely look at Harvard Business School fees, curriculum, and much more.
Harvard Business school is the graduate business school of Harvard University. And one of the best business schools to study business and management.
In other words, this article will help you to know more about Harvard business school, their school fees, and how to pay them. sit back and relax!
About Harvard Business School
Founded in 1636, Harvard University is a private Ivy League research university in Cambridge, Massachusetts. However, it has about 6,800 undergraduate students and 14,000 postgraduate students.
Also, Harvard is the United States’ oldest institution of higher learning. and one of the most prestigious universities in the world because of Its history, influence, wealth, and academic reputation.
Founded in 1908, Harvard business school is the graduate business school of Harvard University. Located in Boston, Massachusetts.
It is constantly ranked among the best schools in the world, and also offers a large full-time MBA program, management-related doctoral programs, and many executive education programs.
HBS has a total of 2,011 numbers of students. In addition, ranked tied for 3rd in the nation by U.S. News & World Report and 1st in the world by the Financial Times (2021).
How Can You Get Into Harvard Business School?
Harvard has one of the most prestigious MBA programs in the world. Therefore, getting into Harvard MBA
takes a lot of effort and it’s really important to understand what the Harvard MBA admissions committee looks for in applicants.
To help you understand, we’ll discuss the 7 steps that can help you secure admission to Harvard Business School.
#1. Start Research Early
Start your research at least 1 year before you plan to apply. The Round 1 application deadline for the HBS MBA class of 2023 is November 1, and Round 2’s deadline is January 6. I would suggest applying in the first round itself.
Well, there are 2 types of research that you’ll have to do
- Internal Research
- External Research
NOTE: HBS blows a very high median GMAT score of 730 for its latest incoming class. Therefore, it’s really important to score above the median score for a successful HBS MBA application.
#2. Research External factors
HBS Website Research: In External research, you should first start with Harvard Business School’s website. Research the program you are intending to apply for (2- year MBA, executive program, HBX, Doctoral programs). Look at the facts and figures of their MBA program, Alumni, research, and campus & culture.
LinkedIn Research: Review the profile of people who made it to Harvard Business School. There is a chance that you might feel that you are not as fulfilled as those people are. That’s because they have displayed their profile better than most individuals.
However, even if you stumble upon profiles of extraordinary individuals, just aspire to be better than them. It’s never too late to start.
#3. Research Internal factors
By researching internal factors, I mean introspection. Once you have completed external research, you’ll have enough information to compare yourself with.
#4. Think like Harvard Business School’s Admission committee – Identify gaps
HBS’ admission committee wants a candidate who can not only ‘get in’ but also ‘get through’ their MBA program. However, if you want to build your profile to get an admit to Harvard Business School or any other top business school, you should:
- Understand the different factors considered in the application
- Weight-age of all those factors in the application
- Which factors are under your control (unchangeable and changeable factors)
- Work on the factors which are still under your control
#5. Work on the gaps in your application
Changeable vs. Unchangeable Evaluation Factors: In the MBA application process, different parameters may not be under your control now (GPA/employer’s brand, etc), but a whopping 56% is still within your next control – GMAT, essays, interview, and recommendation letters. You should focus on putting your best foot forward as far as these aspects are concerned. Also note:
- Analyzing gaps in your application will tell you which areas to focus on.
- List factors into changeable and unchangeable.
- Work on factors that you can still control. Those factors have a 56% weight in your application.
# 6. Prepare and Ace the GMAT
Your GMAT score accounts for 22% weight-age (16% for total GMAT score + 6% for GMAT quant score) in your application. Most students need 3 months of preparation time to achieve a 740+ score.
Also, Make sure to target a score that is 20+ more than the average GMAT score of your target B-school’s incoming batch. For HBS you should target 750, which is around 20 points more than 731 – the average GMAT score of last year’s batch.
Note: Aim for a GMAT score that is 20+ points more than the average GMAT of the last incoming batch. For Harvard Business School, aim for a GMAT score of 750+
#7. Apply to Harvard Business School’s (HBS) MBA Program
There are three steps in the application process which are:
- Written Application
- You need to prepare the following
- GMAT/GRE Score
- TOEFL/ IELTS/ Pearson Test of English (PTE) – Make sure you get a TOEFL to score higher than 109 on the iBT, an IELTS score higher than 7.5, or a PTE score higher than 75.
- Acceptance of policies
- After submitting your application, it will be reviewed, and then you may be invited for an interview
- Post – Interview reflection
- You have to submit a written reflection through the online application system of HBS within 24 hours of your interview
What Do They Teach You at Harvard Business School?
The honest and entertaining memoir What They Teach You at Harvard Business School by Philip Delves Broughton, author of Life’s a Pitch, is required reading for anyone thinking that Harvard Business School is the place to sit out the recession.
Also, the most important thing they teach is how to think on your feet, especially in a business context. so that is because of the case method, and how it needs you to process a lot of information, and have an intelligent set of thoughts on it.
And then have a clear point of view on the problem. which is what the classroom experiment at HBS is about.
How Much is Harvard Business School MBA Fee?
Over the past few decades, the average cost of attending a top U.S. MBA has increased faster than the rate of rising/inflation. However, the cost of an MBA is a critical factor in selecting a business school. So, the tuition fee is just one aspect of the cost.
Also, other components are health insurance, administrative service, book, rent and utilities, food, personal, transportation, computer allowance, MBA association fee, and other membership fees.
The Harvard business school tuition fee is $73,440 while adding up all other expenses the total cost is $119,821, which is also the same for International students.
So, since it takes two years of full-time study to complete the program, you’ll need to double those costs ($146,880 for tuition, and $239,642 for everything).
Is Harvard Business School expensive?
The present-day tuition sticker rate for Harvard’s 2-year MBA is $76,000 yearly, but approximately half of the college students receive a need-based scholarship from HBS, with scholarship awards averaging $42,000.
Harvard Business School Online MBA
HBS Online courses are nothing like a regular sit-back-and-listen lecture. You’ll join a new activity every three to five minutes. Hence, each element is planned to keep you inspired, involved, and on your toes.
Also, engaging with your peers is a big part of what makes HBS Online unique. You swap ideas, offer input, and explore viewpoints from a community of learners gathered from around the globe. So, in the process, you learn from each other’s encounters and perspectives.
However, Each course lasts between four to eight weeks and costs between $950 and $4,500. HBX doesn’t offer any degrees, and there are no plans for it to do so as Harvard Business School Online, said Mullane. Harvard’s online M.B.A.
How Much Is Harvard Business School Fees For an Executive MBA?
The Executive MBA is an intense program that needs total commitment from its participants. The admissions committee places particular stress on each applicant`s academic qualifications, motivation, professional experience, and maturity.
The BI Executive MBA gives you better entrance into global markets and enhances your ability to make good strategic decisions.
The BI Executive MBA offers four specializations, providing you the possibility to focus on global management, digitalization, sustainability, or business in China.
Also, all four options consist of an 18-month program, during which you will complete six intensive modules, each lasting two weeks.
So, the Harvard business tuition fees for Executive MBA are approximately $48,000, and Digital study materials are included. But does not include travel expenses (flights and accommodation).
How hard is it to get into Harvard Business School
Harvard Business School admits two kinds. They are applicants from a good college with very high marks in solid subjects and a top GMAT score. Those are a minority of whom HBS Admissions accepts.
Most of the persons that HBS accepts into their MBA program have work experience which usually results in their exercising managerial responsibility early. The managerial responsibility is usually low-level. If an applicant is well up the managerial ladder, a Harvard MBA will not do him that much good.
As a matter of fact, the Havard Business School lookout for students with the following:
- Smarts. This must be evident in transcripts, test scores, written answers to the application’s prompts, and remarks on recommendations.
- Organization – evident from answers to prompts and from recommendations
- Energy level
- Goal-drivenness5. Results
About two-thirds of students in HBS have Engineering, Math, or science degrees. Additionally, some students have JD’s plus assorted other advanced professional degrees, academic degrees, or some of both.
FAQS On Harvard Business School
Yes, Harvard University is ranked No. 3 (tie) in Best Business Schools. Schools are ranked according to their performance across a set of widely accepted indicators of excellence.
Harvard Business School’s MBA program lasts two years, with students using the summer break between the first and second year to complete an internship.
Harvard Business School is one of the most competitive MBA programs with a 13% acceptance rate—and it also produces some of the most successful business school graduates. Harvard MBA grads sign on the dotted line for $175,000 on average. The starting salary for Harvard students is the third-highest in the country.
In conclusion, Harvard Business School is one of the best schools in the world, which also offers a large full-time MBA program, and is quite expensive when it comes to the cost of study. Also, Harvard has one of the most prestigious MBA programs in the world. Therefore, getting into Harvard MBA takes a lot of effort.
So, as a student, you need to put more effort in terms of getting a good score on your TOEFL exam and be careful when applying.
I believe this article will help you when applying and also gives you answers to all your questions about Harvard Business School.